Enbridge Energy L.P. (EEP) has risen sharply, recording gains of 1.39% in the past 4 weeks. However, the stock has corrected -5.62% in the past 1 week, providing a good buying opportunity on dips. Enbridge Energy L.P. (EEP) : During the past 4 weeks, traders have been relatively bearish on Enbridge Energy L.P. (EEP), hence the stock is down -1.91% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -5.55% relative to the S&P 500.
The stock has recorded a 20-day Moving Average of 0.54% and the 50-Day Moving Average is 2.79%. Enbridge Energy Partners, L.P. is up 10.94% in the last 3-month period. Year-to-Date the stock performance stands at 7.66%.
Enbridge Energy L.P. (NYSE:EEP): stock turned positive on Friday. Though the stock opened at $23.26, the bulls momentum made the stock top out at $23.63 level for the day. The stock recorded a low of $22.95 and closed the trading day at $23.36, in the green by 4.05%. The total traded volume for the day was 1,954,011. The stock had closed at $22.45 in the previous days trading.
Also, In a research note released to the investors, UBS maintains its rating on Enbridge Energy L.P. (NYSE:EEP).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, UBS raises the new price target from $24 per share to $26 per share. The rating by the firm was issued on July 29, 2016.
Enbridge Energy Partners, L.P. (the Partnership) is a limited partnership that owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States of America. The Companys activities include Interstate pipeline transportation and storage of crude oil and liquid petroleum, and gathering, treating, processing and transportation of natural gas and natural gas liquids (NGLs), through pipelines and related facilities and supply, transportation and sales services, including purchasing and selling natural gas and NGLs. It operates in two segments: Liquids and Natural Gas. The Liquids segment includes the operations of its Lakehead, North Dakota and Mid-Continent crude oil systems. The natural gas business includes natural gas and NGL gathering and transportation pipeline systems, natural gas processing and treating facilities and NGL fractionation facilities.